In this week’s discussion, we talk about ROI, and how it is part of the key components that a business client is looking for when it comes to marketing. ROI, or Return on Investment is one of, if not the most important things to keep in mind when coming up with marketing plans. Return on investment is simple to figure out, it is the investments amount subtracted from the profits divided by the investment amount. In clients’ eyes, ROI is very important, if a marketing plan has a low return on investment, it is considered a failure, but if the returns are high, it is considered a success, and the clients might look to you for future marketing campaigns.
Having the ability to forecast revenue and growth, plays hand-in-hand with ROI. If you are able to forecast business revenues and expenses, and seem accurate, investors and/or clients might be more likely to invest more money into your business. The main things to keep in mind when forecasting, is to double and triple your estimates, and forecast revenues conservatively and also aggressively. By taking the time to properly calculate ROI and accurately forecast revenues and expenses, your clients will put more faith and investment in your business and marketing ideas.
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